ATLANTA — PGIM Real Estate has provided an $82.3 million, floating-rate loan for the refinancing of Mira at Midtown Union, a 26-story rental tower in the Midtown neighborhood of Atlanta. The borrower was joint venture between MetLife Investment Management and StreetLights Residential. Tom Goodsite of PGIM Real Estate arranged the financing. Delivered in 2022, the property offers 355 units in studio, one-, two- and three-bedroom floor plans. Apartments range from 496 to 1,743 square feet. Community amenities include a pool, resident lounge, sunset deck with fire pits and grills, pet …
BRAINTREE, MASS. — WinnDevelopment and development partner Arch Communities have broken ground on The Eastwalk, a $47-million mixed-income project in Braintree, roughly 12 miles south of Boston. The five-story community will be built on the former location of the Braintree Electric Light Department. The project also includes the creation of a pedestrian riverwalk along the Monatiquot River, which will provide public access to the river. The Eastwalk will feature a mix of one-, two- and three-bedroom apartments. Of the total 56 units, 30 will be set aside for households earning …
PORTLAND, ORE. — Fairfield has secured a $26.4 million loan for the refinancing of 735 St. Clair, a 24-story building in Portland’s Goose Hollow neighborhood. The building consists of 212 apartments in studio, one- and two-bedroom layouts. Units range from 650 square feet to roughly 1,000 square feet. Joe Giordani, Scott Botsford, Brendan Golding, Alvin Cao and Stuart Oswald of Northmarq’s Newport Beach, California, and Seattle Debt + Equity teams arranged the permanent fixed-rate refinance loan through Northmarq’s direct Freddie Mac lender partnership. The loan features a five-year fixed term with …
JEFFERSONVILLE, IND. — S&S Properties has acquired Lakeside Gardens, a 360-unit asset located at 4101 Herb Lewis Road in Jeffersonville, just across the Ohio River from Louisville, Kentucky. A joint venture between Denton Floyd Real Estate Group, LDG Development and a private investor sold the property for $67.15 million. Built in 2022, Lakeside Gardens features a mix of one-, two- and three-bedroom units. The average unit size is 1,244 square feet. The community was 95 percent occupied at the time of sale. According to Apartments.com, residents have access to amenities …
NEW YORK CITY — Merchants Capital has provided $129.1 million in financing for the New York City Housing Authority’s $419.6 million renovation of Boston Road Plaza, Boston Secor and Middletown Plaza (BBM) in the East Bronx. The three communities total 952 apartments across six residential buildings. The Bronx Revitalization Collaborative (BRC), a joint venture between Beacon Communities, Kalel Cos. and MBD Community Housing Corp., is leading the renovations. The project is currently underway and is slated for completion in 2026. Units will receive improvements to bathrooms and kitchens, as well …
DALLAS — BAI Fund Manager (BOLOUR), an affiliate of Beverly Hills, California-based investment, development and finance company Bolour Associates Inc., has provided financing for the acquisition of a 112-unit affordable housing community in Dallas. John Choi of Concord Summit Capital represented the borrower. Built in 1989, the property is located at 4753 Duncanville Road, roughly 15 miles southwest of downtown Dallas. Units come in one-, two- and three-bedroom floor plans and range from 663 to 1,059 square feet. Income restrictions for the community were not disclosed.
INGLEWOOD, CALIF. — Bell Partners has received a $73 million loan for the refinancing of Bell South Bay, a 264-unit community located at 11622 Aviation Blvd. in Inglewood, about 13 miles southwest of Los Angeles. Justin Nelson and Craig West of Walker & Dunlop’s Capital Markets and Multifamily Finance teams arranged the bridge loan. The financing was provided by accounts managed by KKR. Built on 3.05 acres in 2016, Bell South Bay consists of 264 apartments. Units come in studio, one- and two-bedroom layouts. Amenities include a fitness center and …
SOMERVILLE, MASS. — A joint venture between affiliates of Magellan Development Group, RAS Union Square Development LLC, Cypress Equity Investments and Affinius Capital has secured a loan for the refinancing of Prospect Union Square in Somerville, roughly 5 miles northwest of Boston. Danny Kaufman, Brett Paulsrud, Madeline Joyce and Ali Howard of JLL Capital Markets arranged the loan through Northwestern Mutual. Located at 20-50 Prospect St. in Somerville’s Union Square neighborhood, Prospect Union Square spans two buildings on a 1.3-acre site. The property consists of a 25-story high-rise tower and …
AURORA, ILL. — Waterton has contributed $16 million in preferred equity for the development of Residences at Eastbank, a five-story, 258-unit, mid-rise project underway in downtown Aurora, about 40 miles west of Chicago. Geneva Capital Group arranged the equity and provided a $45 million senior loan. Further support came from the City of Aurora. Construction began in May 2024 and is expected to be completed in 2026. According to the developer, DAC Developments, the total project cost is $90.4 million. Floor plans will include a mix of studios, one-, two- …
UNIVERSAL CITY, TEXAS — Capital advisory firm David B. Norton Inc. has arranged $35.4 million in construction financing for a 268-unit project in Universal City, a northeastern suburb of San Antonio. The development will consist of 10 buildings on a 14-acre site. The financing, which represents about 77 percent of the total project capitalization, includes both debt from an undisclosed regional bank and preferred equity from an undisclosed institutional investor. The name of the developer was also not released.